Wednesday, May 15, 2013
The agency apologized last week for automatically sending Tea Party and similar groups through multiple hoops before the 2012 election.
President Obama this week said efforts by IRS employees to target new conservative groups for extra scrutiny were "outrageous," echoing many administration critics who charged that the measures were politically motivated. "I have got no patience with it, I will not tolerate it, and we will make sure that we find out exactly what happened on this," Obama said in a news conference Monday. The Wall Street Journal reported that an Inspector General's report concludes there was widespread targeting of conservative-linked groups for aggressive questioning, but that no one outside the IRS was involved in establishing the practice. (The report was released Tuesday.) Former IRS Commissioner Douglas Shulman, an appointee of President George W. Bush…
Sunday, April 14, 2013
The Internal Revenue Service says taxpayers who need more time to file don't need to panic.
Can't file your tax returns by the Monday, April 15 deadline? Extensions are available. Those who haven't finished completing their returns can get an automatic six-month extension. The fastest and easiest way to get the extra time, the IRS says, is through this Free File link — use the free service to electronically request an automatic tax-filing extension on Form 4868. Filing this form gives taxpayers until Oct. 15 to file a return and allows individuals to avoid a late-filing penalty. To get the extension, you must estimate your tax liability and also pay any amount due. Can't pay the full amount you owe the government? Click here to find out about setting up payments. Keep up with Holly Springs-Hickory Flat Patch news by subscribing…
Sunday, February 17, 2013
The IRS says it's getting high traffic on its online “Where's My Refund?” tool.
The deadline to file 2012 income tax returns isn't until April 15, but taxpayers appear to be filing early and are already asking, "Where's my refund?" “Due to the large number of inquiries and to avoid service disruptions, the IRS strongly urges taxpayers to only check on their refunds once a day,” the IRS said, according to a report by Accounting Today. “IRS systems are only updated once a day, usually overnight, and the same information is available whether on the Internet, IRS2go smartphone app or on IRS toll-free lines. While 'Where's My Refund?' is updated nightly, your account will not change that frequently.” Have you already filed your 2012 tax return? What was your experience? Share your thoughts in the comments below. …
Tuesday, January 15, 2013
It's tax time again in Holly Springs. Standard deductions will increase, but the ceiling for itemized deductions decrease in 2013, plus other changes that will affect your taxes this year.
Tuesday, January 15
On Friday, the Internal Revenue Service announced annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012. The tax items for 2013 of greatest interest to most taxpayers include the following changes. Details on these inflation adjustments and others are contained in Revenue Procedure 2013-15, which will be published in Internal Revenue Bulletin 2013-5 on Jan.28, 2013. Other inflation adjusted items were published in October 2012 in Revenue Procedure 2012-41. -News release from the Internal Revenue Service If you have tax questions and need an expert, use the Holly Springs-Hickory Flat directory to locate a CPA or Tax Service …
Monday, April 9, 2012
Although nobody voted in the tax preparer poll last week, the deadline is still rapidly approaching.
Tax payers have until April 17 this year because of the April 16 Emancipation holiday celebrated in Washington D.C, according to the IRS website. Consider this your official eight-day reminder. Walgreens, Publix, CVS, Kroger and Wells Fargo will all have post office drop offs that stay open later than 6 p.m. on April 17.
Monday, December 27, 2010
Between the I9 and the W2, who really knows what to file where?
Tax season is one of the most unpredictable times of year. That is, unless you're enduring a random winter storm in the middle of the Deep South. Depending upon your filing status some consumers may find it highly rewarding and for others it can be quit penalizing. Holly Springs resident, Edeline Dryden of Dryden Tax and Accounting Services, said consumers do not take the time out to verify specific details when filing. "People are trying to do their own taxes and making endless errors because they are not aware of what's available to them," she said. "They are not maximizing their deductions if they are doing it themselves." With more than 10 years of experience, Dryden has witnessed simple costly mistakes that consumers make preparing …